Exploration Account definition

Exploration Account means a segregated account maintained at a chartered Canadian bank for the purposes of receiving amounts of subscription of Shares pursuant to the Offering and of disbursing funds to finance conduct of the Exploration Program;
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Exploration Account has the meaning set out in the provisions under Section 2;
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Exploration Account has the meaning set out in section 5 below;
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Examples of Exploration Account in a sentence

  • The Purchaser acknowledges that any interest accruing on the Commitment Amount in the Exploration Account will accrue to the sole benefit of the Issuer and may be applied by the Issuer for general corporate purposes.

  • Any funds paid to the Issuer pursuant to the terms of such agreements will also be deposited in the Exploration Account.

  • Subject to the Issuer’s right to revise the Exploration Program as provided in Section 12, the Issuer will apply the Commitment Amount deposited in the Exploration Account exclusively for the purpose of performing the Exploration Program and the Issuer will only apply such funds to incur expenditures which are Qualifying Expenses.


More Definitions of Exploration Account

Exploration Account has the meaning set out in the provisions under the heading FLOW-THROUGH UNITS below;
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Related to Exploration Account

  • Project Account means the account referred to in Section 3.04 (a) of this Agreement;

  • Sub-Account means any of the individual sub-accounts of a Participant's Separate Account that is maintained as provided in Article VIII.

  • Operating Account means a demand deposit account maintained at the Funding Bank in Borrower's name and designated for funding that portion of each Eligible Loan not funded by a Warehousing Advance made against that Eligible Loan and for returning any excess payment from an Investor for a Pledged Loan or Pledged Security.

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • Cash Account has the meaning set forth in Section 2.1(a)(ii).

  • Matching Contribution Account means the separate, individual account established on behalf of a Participant to which the Matching Contributions made on such Participant's behalf are credited, together with all earnings and appreciation thereon, and against which are charged any withdrawals, loans and other distributions made from such account and any losses, depreciation or expenses allocable to amounts credited to such account.

  • Principal Accumulation Account Balance means, for any date of determination, the principal amount, if any, on deposit in the Principal Accumulation Account on such date of determination.

  • Company Contribution Account means (i) the sum of the Participant’s Company Contribution Amounts, plus (ii) amounts credited or debited to the Participant’s Company Contribution Account in accordance with this Plan, less (iii) all distributions made to the Participant or his or her Beneficiary pursuant to this Plan that relate to the Participant’s Company Contribution Account.

  • Rollover Contribution Account means the separate Account maintained for a Member to record such Member's share of the Trust Fund attributable to any Rollover Contribution made to the Plan on his behalf.